India Pays China for Oil. Petrodollar Just Blinked.
Indian oil tankers are now paying in Chinese yuan to transit through Iranian-controlled corridors.
That's it. That's the domino. Once a country India's size breaks from dollar-denominated oil trade, the rest have cover to follow.
The petrodollar system has survived every challenge for 50 years. The Gulf energy catastrophe may be what finally cracks it open.
Source
x.com